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Bill Jackson

Orillia Homes and Real Estate February Statistics

This article deals with the recent single family residential sale statistics for Orillia, Ontario for the month of February 2011 and compares it to February 2010. There are so many different statistics that can be manipulated in many ways to produce either positives or negatives... Basically, what I was concerned with was the activity on our local real estate board with a focus on the average sale price and the sales/listing ratio.Once again, I am strictly looking at single family dwellings that were reported to the Orillia & District Real Estate Board. I am not taking into consideration any commercial, multi-family, or rental dwellings.

February 2011:

Listings 131

Sales 42

Listings/Sales 32%

Average Sale Price $252,250

 

February, statistically speaking, was pretty much on par from a listing perspective with respect to February 2010. From a sales perspective, there were 9 more sales a year ago. From personal experience, I have been busy but my clients are taking a more cautious approach to the start of the year and this falls within what the statistics are showing. The average sale price for the month, $252,250, is still off the twelve month average (March 2010 – February 2011) of $262,010. This can be attributed to the relatively small sample size of 42 sales where a few lower priced sales can trend the average sale number downward.It is much closer to the twelve month average compared to a month ago when the gap was over $29,000.

 

Last year, the February 2010 numbers:

Listings 130

Sales 51

Listings/Sales 39%

Average Sale Price $256,874

 

For the year-to-date 2011, the single family residential market for the Orillia area has had eighteen fewer sales and fourteen fewer listings, resulting in a sales/listing ratio being down 5% and an average sales price being down $7,214 from a year ago at this date.Now that March has arrived, the spring market is about to begin and the numbers above should see a trend upwards based on historical activity in the spring. Today alone on our board, there are fourteen new listings and six sales as I type.

 

In terms of in-town homes, I am getting a lot of calls from people wanting to buy a home that has the ability to provide rental income as well. People are looking at the university and college students as a way to help pay off their mortgage.I am really excited by the opportunities that I think the Orillia real estate market will provide for 2011… will you be part of it?

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